Nasdaq crossed over the dotted Channel Down and turned bullish, negated any potential similarity with the March 6th top that prompted to one final pullback. With 1D technicals turning bullish (RSI = 58.126, MACD = 113.800, ADX = 33.345), this indicates that there is still strong potential to extend the rise. Our Short term target is the HH trendline (TP = 13,350) and medium term R1, which is the August 16th 2022 top (TP = 13,730).
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.